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S&P economist says USD will no longer be the dominant world currency

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A top economist warns the US dollar will 'no longer be the dominant world currency' as trade in Chinese yuan rises

A top economist chimed in on the ongoing debate on de-dollarization, warning that the allure of the US dollar is waning.

The greenback"doesn't have quite the pull it used to," Paul Gruenwald, the global chief economist at ratings agency S&P Global, said at a conference in London on Tuesday, The US dollar"will continue to be a leading world currency," Greunwald said, per Reuters. However,"it will no longer be the dominant world currency," he added.following sweeping sanctions against Russia that expelled the country from the US dollar-dominated global financial system.

 

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